Chinese system integrators have cemented their dominance of the global battery energy storage system (BESS) market, capturing 76% of global market share in 2025.
Stationary energy storage in support of electric vehicles (EVs) charging could reach a global installed capacity of 1,900MW by the end of 2029 according to a new Guidehouse Insights report.
The market for power conversion systems (PCS) used in energy storage is becoming “increasingly crowded” with competitors, while the diverse field of players will contribute to “rapid technological innovations and price reductions”, Navigant Research has said.
In less than 10 years, distributed solar-plus-storage systems will reach 27.4GW worldwide and be worth more than US$49.1 billion, with Asia and Western Europe leading the way, a new report from Navigant Research has forecast.
